13F HOLDINGS REPORT

SAL Trading, LLC

Quarter ended Q1 2023 · Filed February 14, 2023 · Accession 0001879635-23-000004

Total Value

$171.9M

Positions

Other Managers

Confidential Omitted

Holdings (35)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	NOKIA CORP	NOKBF	7,101,319	$33.0M	19.16%
2	BP PLC	BPPFF	757,500	$26.5M	15.39%
3	ASML HOLDING N V	ASMLF	34,600	$18.9M	11.00%
4	BHP GROUP LTD	BHPLF	181,400	$11.3M	6.57%
5	SHELL PLC	RYDAF	153,400	$8.7M	5.08%
6	TOTALENERGIES SE	TTE	140,400	$8.7M	5.07%
7	NOKIA CORP	NOKBF	1,823,300	$8.5M	4.92%
8	ASML HOLDING N V	ASMLF	15,400	$8.4M	4.89%
9	SHELL PLC	RYDAF	108,900	$6.2M	3.61%
10	LINDE PLC	LIN	18,900	$6.2M	3.59%
11	BP PLC	BPPFF	167,800	$5.9M	3.41%
12	ASTRAZENECA PLC	AZN	77,300	$5.2M	3.05%
13	ASML HOLDING N V	ASMLF	8,100	$4.4M	2.57%
14	LINDE PLC	LIN	12,800	$4.2M	2.43%
15	LOGITECH INTL S A	H50430232	48,800	$3.0M	1.77%
16	STMICROELECTRONICS N V	STMEF	43,000	$1.5M	0.89%
17	NOVO-NORDISK A S	NONOF	8,400	$1.1M	0.66%
18	TOTALENERGIES SE	TTE	17,300	$1.1M	0.62%
19	LOGITECH INTL S A	H50430232	17,000	$1.1M	0.62%
20	NOVO-NORDISK A S	NONOF	7,300	$987,982	0.57%
21	VODAFONE GROUP PLC NEW	92857W308	81,700	$826,804	0.48%
22	RIO TINTO PLC	RTNTF	10,600	$754,720	0.44%
23	SAP SE	SAPGF	7,100	$732,649	0.43%
24	SAP SE	SAPGF	6,400	$660,416	0.38%
25	TOTALENERGIES SE	TTE	10,600	$658,048	0.38%
26	SPDR INDEX SHS FDS	78463X202	13,900	$537,930	0.31%
27	STELLANTIS N.V	STLA	35,700	$506,940	0.29%
28	VODAFONE GROUP PLC NEW	92857W308	38,000	$384,560	0.22%
29	FERRARI N V	RACE	1,700	$364,174	0.21%
30	EQUINOR ASA	STOHF	10,000	$358,100	0.21%
31	NOKIA CORP	NOKBF	73,200	$339,648	0.20%
32	ASTRAZENECA PLC	AZN	4,600	$313,260	0.18%
33	BANCO SANTANDER S.A.	BCDRF	85,200	$251,340	0.15%
34	WOODSIDE ENERGY GROUP LTD	WOPEF	9,720	$235,321	0.14%
35	DEUTSCHE BANK A G	D18190898	15,600	$179,712	0.10%